Philex Mining Mineral Production and Shipment Report for April 2012

The Philex Mining Corporation's gold production in April 2012 amounted to 8,973 ounces. The company also produced as other products 2,904,065 pounds of copper and 8,788 ounces of silver. During the month, the Padcal mine delivered 711,331 DMT of ore, resulting in 5,319 grams per DMT of silver. The estimated value of the month's production, based on provisional metal prices of $1,657 per ounce gold, $3.87 per pound copper, and $31.20 per ounce silver, at the exchange rate of P42.205 to $1.00, amounts to P1.113 billion. Of this, P627 million is from gold, P474 million from copper, and P12 million from silver. The company effected two (2) shipments in the same month, Shipment LDM-21 and LDM-22 for Louis Dreyfus Commodities Metals Suisse SA, containing a total of about 16,614 ounces of gold, 5,375,503 pounds of copper, and 16,692 ounces of silver, from 10,013 DMT of concentrates, having an estimated gross value of P2.057 billion, consisting of P1.174 billion from gold, P860 million from copper, and P23 million fro silver, based on the average provisional metal prices of $1,659 per ounce gold, $3.75 per pound copper, and $31.98 per ounce silver. - https://www.affordablecebu.com/